Pink Slip Mania: This Is (Now) CNN

CNN fail

Unfortunately for Turner Broadcasting Systems, ratings haven’t been kind to the network that invented — for better or worse — 24/7 news.

In fact, they have sucked a little. This consistent downward spiral has forced the muckety-mucks at Turner (parent company of CNN, HLN, TNT, TBS, Adult Swim, Cartoon Network, and others) to consider what many in media believe to be the inevitable.

Reports show up to 300 have been let go at CNN and HLN alone, and this afternoon our sister site TVNewser learned that the recently relaunched Crossfire had been put out of its misery (again).

Factoids on the dearly departed after the jump.

Capital New York reports that 300 positions, or 8% of CNN’s workforce, is being cut. The move affects employees in Atlanta, Washington, D.C., New York and Los Angeles. Close to half of that total took a voluntary buyout, but the remaining staff have been laid off.

Other cuts involve the following:

The original report from The Wrap noted that CNN will lay off 1,475 employees over the next two weeks, a 10 percent reduction in staff. Approximately 900 employees from all of Turner in Atlanta will be let go, while CNN Worldwide will lose a total of 170.

Severance pay will be offered to the employees in 18 global locations. The job cuts will come at all levels across the company’s news, entertainment, kids, young adult and sports networks and business, as well as corporate functions.

Somewhere, Ted Turner is pouring a little bit of (very expensive) liquor on the curb outside his now emptied and about to be excavated Turner Field.